Arkansas Code Title 24, Chapter 2, Subchapter 6 - State Retirement Systems Investments

• § 24-2-601 - Investment Authority and Limitations Generally.
  (a) All investments of the retirement systems covered by this subchapter shall be in strict compliance with the provisions of this subchapter.(b) The term...
• § 24-2-602 - Investment Authority and Limitations -- Permissible Investments.
  (a) The boards of trustees of the State Police Retirement System, the Arkansas Public Employees' Retirement System, the Arkansas Teacher Retirement System, the Arkansas...
• § 24-2-603 - Investment Authority and Limitations -- Default Setoff.
  (a) In the event of default in payment of the principal or interest of any investment obligation held by any state retirement system where...
• § 24-2-604 - Investment Authority and Limitations -- Conflict of Interest.
  Except as to the rights of a member, retirant, or beneficiary, no trustee and no officer or employee of the board of any state...
• § 24-2-605 - Investment Authority and Limitations -- Fidelity Bonds.
  (a) The boards of trustees of the respective retirement systems shall provide for a blanket fidelity bond of one million dollars ($1,000,000) covering the...
• § 24-2-606 - Investment Authority and Limitations -- Custodianship of Assets.
  (a) The Treasurer of State shall be the legal custodian of the securities of the respective retirement systems. However, the systems may deposit with...
• § 24-2-607 - Investment Authority and Limitations -- Trust Account.
  (a) In addition to the various retirement systems funds established as trust funds in the State Treasury, a bank trust fund or funds may...
• § 24-2-608 - Investment Authority and Limitations -- Arkansas-Related Investments.
  (a) In acquiring, investing, reinvesting, exchanging, retaining, selling, and managing funds held by each of the trusts, fiduciaries administering the systems shall manage the...
• § 24-2-609 - Registration of Securities in Name of Nominee -- Powers and Duties of Nominee.
  (a) The boards of trustees of the various state retirement systems are authorized to register stocks, bonds, notes, and other securities held by and...
• § 24-2-610 - Prudent Investor Rule.
  (a) Except as otherwise provided in subsection (b) of this section, trustees who invest and manage trust assets owe a duty to the beneficiaries...
• § 24-2-611 - Standard of Care -- Portfolio Strategy -- Risk and Return Objectives.
  (a) Trustees shall invest and manage trust assets as a prudent investor would, by considering the purposes, terms, distribution requirements, and other circumstances of...
• § 24-2-612 - Diversification.
  Trustees shall diversify the investments of the trust unless the trustees reasonably determine that, because of special circumstances, the purposes of the trust are...
• § 24-2-613 - Duties At Inception of Trusteeship.
  (a) Within a reasonable time after accepting a trusteeship or receiving trust assets, trustees shall review the trust assets and make and implement decisions...
• § 24-2-614 - Loyalty.
  Trustees shall invest and manage the trust assets solely in the interest of the members and benefit recipients of the trust.
• § 24-2-615 - Impartiality.
  If a trust has two (2) or more beneficiaries, the trustees shall act impartially in investing and managing the trust assets, taking into account...
• § 24-2-616 - Investment Costs -- Limitations on Investment Authority.
  (a) In investing and managing trust assets, trustees may only incur costs that are appropriate and reasonable in relation to the assets, the purposes...
• § 24-2-617 - Reviewing Compliance.
  Compliance with the prudent investor rule is determined in light of the facts and circumstances existing at the time of the trustees' decisions or...
• § 24-2-618 - Delegation of Investment and Management Functions.
  (a) Trustees may delegate investment and management functions that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustees shall...
• § 24-2-619 - Language Invoking Standard of Subchapter.
  The following terms or comparable language in the provisions of a trust, unless otherwise limited or modified, authorizes any investment or strategy permitted under...

Last modified: November 15, 2016